By Sami Zaptia.
London, 24 March 2021:
The Libyan Investment Authority (LIA) reported yesterday that it has taken a set of urgent implementation measures to guarantee the success of its Tunisian investment portfolio.
It said that the measures will support the process of reforms by identifying the problems faced to ensure the protection of its assets, moving the investment wheel and improving the performance of the investment portfolio in the Tunisian arena.
These measures, it explained, come within its endeavours to control the performance of portfolios and affiliated companies.
The LIA’s Board of Directors took a package of urgent executive measures during the periodic meetings, the most notable of which are:
- Reducing operating expenses and focusing on investment expenditures.
- Ending cases of conflicts of interest to achieve the principles of governance and transparency.
- Rehabilitating several investments that represent a profitable and competitive investment opportunity.
- Tightening the direct supervision, control of the LIA to preserve its investments in the Tunisian arena.
In all cases, the LIA noted that when adopting the urgent measures package, it took into account the recommendations and notes of the Audit Bureau and the Administrative Control Authority.